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Media Intelligence : Media Trends+Strategy 2012
For information on your sector go to www.mediabiznet.com.au MEDIA Trends + Strategy MEDIA Trends + Strategy 53 B2B magazines Stay on brand, remain relevant The total audience package What is the greatest challenge for B2B media at the moment? I believe it’s staying focused. We are presented with a host of very exciting brand opportunities, from digital to live events, things we didn’t even think of 5-10 years ago. So the big discussions are really, where to invest? We certainly are seeing a real uplift in our B2B business, driving new initiatives across all the platforms. It’s essential to stay on brand and to remain relevant. It’s very easy to waver when you’ve got advertising challenges but you’ve go to stay relevant editorially: that’s where you really will get the trust from your audience. It’s so easy to chase off into the wilderness, chasing social media for example; you’ve got to come back to what your brand stands for and who your audience is. Once you start swaying off that, I think you become very weak. I don’t think there’s any room for third or fourth places anymore in this small sector. It’s essential to carry on evolving and keep surprising the audience. Are advertising decision makers sufficiently informed to understand the value of targeted smaller circulation and B2B publications? At agency level – no. That’s why the majority of our B2B business is direct. Relationship is king in niche B2B. A solid niche title is a business companion. They are communities of like-minded business people who want to interact within their industry, and we can show this to our advertisers in the form of interaction, across forums right through to downloaded researched and locked content, and the quality of visitors to our events. What research and/or measurement do your titles offer media buyers? We were one of the first publishers to embrace the ABA digital audit and all our web sites are ABA Audited, our consumer tech titles and Limelight are ABC Audited and our B2B titles CRN and Pro Print are CAB audited. This is supplemented by the regular reader research conducted by all Haymarket brands to share with advertisers where we try to add the ‘who and why’ to the ‘how many’. We offer custom research services delivered through telemarketing, web and print surveys. The most exciting measurement on the horizon is the potential to aggregate digital and print sales. This will highlight the cross platform activity to the media buyers and demonstrates the investment that publishers are making into their brands to grow audiences. How are you marketing your products to advertisers? Advertisers need to see we’re investing in the brand and creating more touchpoints within the industry and being distinctive is a must. We are communicating with them by telling them exactly where we’re investing, what we’re doing and where our activities are. What is the challenge moving forward? Someone said the other day ‘Data is the new black’ – it is! This is now the basis for any business that wants to build a strong foundation. The more data you have, the more newsletters, the more EDMs, the more you can communicate in vertical markets. Data is the future of all businesses now. Jeremy Vaughan MD Haymarket Media How are you marketing your products to advertisers? We’re moving away from selling what we would term ‘a product’, like a half page ad in a magazine or a banner ad on a website and selling what we are looking to frame as a ‘total audience package’ where we, as the media company, put together a program for the advertiser that covers e-newsletters, website, digital editions of magazines and print advertising to ensure that advertiser reaches that audience no matter which channel they access our content on... so that we can show advertisers what our total audience is, what percentage through each channel is, what the crossover is from channel to channel, and what they would miss out on if they only did 1 or 2 channels instead of 4 or 5. Are advertising decision makers sufficiently informed to understand the value of these targeted smaller circulation and B2B publications? Most of our advertisers have known us for a long time and know we specialize in specific vertical market sectors. The bigger issue for us is convincing them of the importance of advertising on multiple media channels. That’s a challenge for a lot of these advertisers who don’t use an agency, who go direct; you’re often talking to a marketing assistant without a great deal of experience or a business manager who’s running a business unit and advertising is low on his point of reference and the time that he has to give to it so you need to make it really easy and you need to make a compelling argument about the quality of your audience. That comes down to the auditing process and the CAB has recently introduced verified recipient reporting which allows us as publishers to show what percentage of our audience is fully requested and that’s a big step forward in media companies being able to show the real value of the media they produce. What’s the next big thing to impact on B2B? We’re talking to the CAB, and I’m on a digital sub-committee talking about introducing the auditing of digital editions alongside the print edition. It’s important because in some of our channels we’ve got 25%-30% of our magazine total opt-in membership or subscribers is to our digital edition now and we can’t report that the same way we report our CAB figures for our print edition. That’s coming and that’s pretty exciting. Geoff Hird Publisher Westwick-Farrow p52-53,55_B2B.indd 53 28/11/11 2:18:55 PM
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MT Resource Guide 2012